Liberty Global B (LBTYB)
NASDAQ:LBTYB
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Liberty Global B
(NASDAQ:LBTYB)
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Rating:58Neutral
Price Target:
$18.00
▲(64.84% Upside)
Action:ReiteratedDate:02/18/26
The score is primarily constrained by weak financial performance driven by a large TTM loss and negative returns, partly offset by positive free cash flow and manageable leverage. Technicals are supportive with price above major moving averages and positive momentum indicators. Earnings-call takeaways are mixed: 2026 guidance is soft, but sizable strategic transactions, refinancing, and cost reductions provide medium-term upside potential. Valuation is a modest negative due to a negative P/E and no dividend yield data.
Positive Factors
Free Cash Flow Strength
Sustained positive and improving free cash flow (~$1.45B TTM, +~21% YoY) gives Liberty Global durable financial flexibility to fund capex, refinance maturities, pursue M&A or return capital while withstanding cyclical revenue pressure; this underpins strategic execution.
Negative Factors
Profitability Deterioration
A swing to a deep TTM net loss and ~-51% net margin is a material structural weakness: persistent losses erode equity returns, can force asset sales or earnings-accretive disposals, and reduce cushion for investments. Restoring sustained profitability is critical to long-term financial health.
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Positive Factors
Negative Factors
Free Cash Flow Strength
Sustained positive and improving free cash flow (~$1.45B TTM, +~21% YoY) gives Liberty Global durable financial flexibility to fund capex, refinance maturities, pursue M&A or return capital while withstanding cyclical revenue pressure; this underpins strategic execution.
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Liberty Global B (LBTYB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.92B
Dividend YieldN/A
Average Volume (3M)181.00
Price to Earnings (P/E)―
Beta (1Y)0.21
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees6,820
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)-8.54
Shares Outstanding12,968,658
10 Day Avg. Volume151
30 Day Avg. Volume181
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.41
Price to Sales (P/S)0.82
P/FCF Ratio-32.60
Enterprise Value/Market Cap3.01
Enterprise Value/Revenue2.42
Enterprise Value/Gross Profit9.15
Enterprise Value/Ebitda11.02
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-1.63
Revenue Forecast (FY)$5.01B
Liberty Global B Business Overview & Revenue Model
Company Description
Liberty Global plc, together with its subsidiaries, provides broadband internet, video, fixed-line telephony, and mobile communications services to residential and business customers. It offers value-added broadband services, such as intelligent W...
How the Company Makes Money
Liberty Global makes money primarily by (1) selling subscription-based connectivity and entertainment services and (2) earning income from investments and joint ventures.
1) Subscription and service revenue (core operating model)
- Broadband inte...
Liberty Global B Earnings Call Summary
Earnings Call Date:Feb 18, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 01, 2026
Earnings Call Sentiment Positive
The call combines several near-term operational headwinds (Q4 revenue and EBITDA declines across major OpCos, elevated commercial competition, and incremental 2026 investments that depress near-term EBITDA and free cash flow) with substantial strategic positives: two large transformational transactions (Vodafone stake acquisition and the Nexfibre/Substantial Group deal) intended to create scale, meaningful synergy potential (estimated ~EUR 1.0 billion for Ziggo combination), a planned 2027 public listing and spin-off of Ziggo, large refinancing actions (~USD 15 billion refinanced), dramatic corporate cost reductions (~75% net corporate spend reduction), and a focused growth portfolio with monetization potential. Management provided explicit 2026 guidance that incorporates investment-driven declines and showed clear liquidity and capital-allocation plans (cash targets, asset disposals, no primary equity raise). On balance, the strategic actions and financial-engineering (deleveraging roadmap, asset monetization plans, and cost reductions) are positioned to unlock significant shareholder value over the medium term, outweighing the near-term operational declines and execution/contingent risks.Positive Updates
Strategic M&A to Unlock Telecom Value
Announced acquisition of Vodafone's 50% stake in VodafoneZiggo for EUR 1.0 billion cash plus 10% of new Ziggo Group equity, with intention to list Ziggo on Euronext in 2027 and spin 90% to Liberty Global shareholders. Management expects ~EUR 1.0 billion of NPV from operational synergies and incremental service revenues and targets ~4.5x leverage and ~USD 500 million of annual free cash flow by 2028.
Negative Updates
VMO2 Reported Revenue and EBITDA Declines (Q4 2025)
VMO2 reported a Q4 revenue decline of 5.9% (reported) and adjusted EBITDA decline of 2.4% (reported), driven by lower Nexfibre construction revenues and sustained competitive pressure in U.K. fixed and mobile markets. On a guidance basis (excluding Nexfibre construction and O2 Daisy) management reports modest growth for full year, but 2026 guidance expects total service revenue decline of 3%–5% and adjusted EBITDA decline of 3%–5%.
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Q4-2025 Updates
Positive
Negative
Strategic M&A to Unlock Telecom Value
Announced acquisition of Vodafone's 50% stake in VodafoneZiggo for EUR 1.0 billion cash plus 10% of new Ziggo Group equity, with intention to list Ziggo on Euronext in 2027 and spin 90% to Liberty Global shareholders. Management expects ~EUR 1.0 billion of NPV from operational synergies and incremental service revenues and targets ~4.5x leverage and ~USD 500 million of annual free cash flow by 2028.
Read all positive updates
Company Guidance
Liberty Global’s 2026 guidance was given by operating company: VMO2 (pro forma for the Daisy impact) expects total service revenues to decline 3–5% and adjusted EBITDA to decline 3–5%, with property & equipment additions of GBP 2.0–2.2 billion (ex‑right‑of‑use), adjusted free cash flow of ~GBP 200 million and ~GBP 200 million of shareholder distributions; VodafoneZiggo expects revenue to be stable to a low single‑digit decline, adjusted EBITDA to fall mid‑ to high‑single digits (driven partly by EUR 100 million of incremental OpEx/CapEx in 2026 for network resilience, stepping down to ~EUR 50 million OpEx in 2027–28), capex/revenue of ~23–25%, adjusted free cash flow of ~EUR 100 million and no shareholder distributions; Telenet (IFRS, excluding Wyre) expects stable revenue, low single‑digit adjusted EBITDAaL growth, capex/revenue of ~20% and positive adjusted free cash flow of ~EUR 20 million; Liberty Corporate expects about negative $50 million of adjusted EBITDA. The company reiterated a target to end 2026 with roughly $1.5 billion of corporate cash (pro forma for announced M&A and expected asset disposals), noted a Q4/YE 2025 consolidated cash balance of $2.2 billion, and reported the Liberty Growth portfolio fair market value at about $3.4 billion.Liberty Global B Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
56
Neutral
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.88B | 4.34B | 4.12B | 4.02B | 10.31B |
| Gross Profit | 1.29B | 2.89B | 2.83B | 2.95B | 7.29B |
| EBITDA | 1.07B | 987.90M | 951.90M | 1.27B | 3.65B |
| Net Income | -7.14B | 1.59B | -4.05B | 1.47B | 13.43B |
Balance Sheet | |||||
| Total Assets | 22.60B | 25.44B | 42.09B | 42.90B | 46.92B |
| Cash, Cash Equivalents and Short-Term Investments | 2.16B | 2.15B | 3.64B | 4.35B | 3.18B |
| Total Debt | 10.16B | 9.85B | 10.23B | 15.55B | 16.19B |
| Total Liabilities | 12.65B | 12.90B | 23.08B | 20.32B | 21.32B |
| Stockholders Equity | 9.74B | 12.37B | 19.06B | 22.44B | 25.93B |
Cash Flow | |||||
| Free Cash Flow | -123.00M | 1.12B | 1.24B | 1.95B | 2.14B |
| Operating Cash Flow | 1.22B | 2.03B | 2.17B | 2.84B | 3.55B |
| Investing Cash Flow | -883.90M | 684.70M | -1.84B | 1.28B | -5.80B |
| Financing Cash Flow | -226.10M | -2.25B | -692.40M | -3.28B | -1.55B |
Liberty Global B Technical Analysis
Positive
10.92
Price Trends
13.52
Positive
12.28
Positive
11.73
Positive
Market Momentum
0.35
Negative
56.18
Neutral
68.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LBTYB, the sentiment is Positive. The current price of 10.92 is below the 20-day moving average (MA) of 13.73, below the 50-day MA of 13.52, and below the 200-day MA of 11.73, indicating a bullish trend. The MACD of 0.35 indicates Negative momentum. The RSI at 56.18 is Neutral, neither overbought nor oversold. The STOCH value of 68.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LBTYB.
Liberty Global B Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $10.53B | -894.38 | -3.18% | ― | 9.04% | 74.09% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
58 Neutral | $3.92B | -0.56 | -59.33% | ― | ― | ― | |
58 Neutral | $3.92B | -0.56 | -59.33% | ― | ― | ― | |
56 Neutral | $4.69B | -757.27 | -0.13% | 0.39% | -39.98% | 23.66% | |
55 Neutral | $3.92B | -0.56 | ― | ― | ― | ― | |
54 Neutral | $9.21B | -967.74 | 267.95% | ― | -5.39% | -3044.42% |
* Communication Services Sector Average
LBTYB
Liberty Global B
16.65
5.65
51.35%
LUMN
Lumen Technologies
8.72
5.18
146.33%
GSAT
Globalstar
81.28
62.06
322.89%
LBTYA
Liberty Global A
11.52
0.57
5.21%
LBTYK
Liberty Global C
11.23
-0.11
-0.97%
TDS
Telephone & Data Systems
44.45
7.12
19.06%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.